Sept 3 (Reuters) - Grain trader Archer-Daniels-Midland's ( ADM )

CEO Juan Luciano said on Wednesday that the company is

on track to achieve about $200 million to $300 million in cost

reductions this year.

ADM has been cutting jobs and downsizing certain operations

since announcing in February that it planned to reduce costs by

$500 million to $700 million over three to five years.

The company has warned that its adjusted earnings this year

would drop to the lowest since 2020, as U.S. trade upheaval and

uncertainty around biofuel policies slowed sales and crimped

trading and crop processing margins.

"From a capital allocation perspective, we continue to focus

on aligning our capital to productivity efforts or cost

reductions efforts or internal innovation," Luciano added at the

Barclays Annual Global Consumer Staples Conference in Boston.

Luciano said that the company has big improvements coming up

in its nutrition business and in the commodity businesses as

well.

ADM signaled that it is seeing some regulatory tailwinds and

tax benefits for biofuels and decarbonization that will help its

carbohydrate solutions business.

"We're going to finish 2025 strong, and we're excited about

2026 onwards," Luciano said, flagging that there's still a lot

of uncertainty ahead.